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MDM Bank Named Leader in Retail Banking Service Quality Survey

01.07.2008 17:05

MDM Bank took second place in retail banking service quality in Russia according to the latest “Customer Experience Index – 2008: Who is Winning the Retail Banking Race in Russia?” survey conducted by Senteo and PricewaterhouseCoopers (PwC). A mystery shopping team visited 51 banks in Moscow and St. Petersburg for this year’s rating.  MDM Bank received 4.22 points, based on a five-point scale (with “5” being the highest).  This represents significant progress compared to the previous year, when MDM Bank received only 2.97 points and placed 24th.

This achievement is largely due to MDM Bank’s reorganization during the past year. The Bank’s new strategy, which was approved in October 2007, concentrates on quality of service for all client groups, including individuals and small businesses. In accordance with these goals, the Bank has improved quality monitoring and handling of customer complaints; the Bank is actively opening new and more convenient points of sale, upgrading and remodelling existing retail branches, and is conducting a comprehensive training of client managers as well as improving the material and non-material incentives for service quality.

The survey conducted by Senteo and PwC measured five areas: brand (do people identify with the bank’s brand); communications (conciseness, comprehension and availability of marketing materials); environment (comfort and convenience of the premises where a bank’s branches are located); offering (the product line and service range being in line with client needs); and culture (how a bank’s personnel service clients). MDM Bank was the leader in terms of environment, garnering a high score of 4.36 points.

Michel Perhirin, Chairman of the Management Board, said: “This is proof that we are moving in the right direction. We are pleased to already see positive results from the aggressive steps taken to implement the Bank’s retail business development strategy, where one of the key factors is improving the quality of service at our network branches. We strive to ensure that clients who visit our bank remain loyal customers, and we are prepared to take all steps necessary to ensure this. Being chosen as the leader in terms of the comfort and convenience of our branches is the result of more than a year’s effort on the part of MDM Bank’s entire team. This work has included analyzing and developing an organizational concept for the branches and their efficient zoning, as well as introducing friendly and client-oriented approaches to servicing our customers, starting from the moment a client enters a branch until he/she has been provided with the proper advice on our convenient products and comprehensive service.

“We have many more goals on our agenda. The introduction of a new operating model will play a key role in optimizing client service at the Bank’s branches. This will enable us to separate the sales and operating functions, thus allowing us to provide clients with quality service in a timely fashion. The most important factor, of course, is the Bank’s personnel. We are pleased that MDM Bank’s personnel have come to the understanding of how important it is for us to satisfy our clients. I am certain that we shall continue to improve our corporate culture, and that we shall achieve even more impressive results in the future.”

MDM Bank
MDM Bank was founded in December 1993 and holds a General Banking License issued by the Central Bank of Russia (#2361 dated 31 March 2008). MDM Bank is one of the most dynamically developing banks in Russia and is among the top Russian banks in terms of assets and equity. Today, MDM Bank is a modern universal financial institution offering a full range of services to its clients.
MDM has one of the highest credit ratings among privately-owned Russian banks – Standard & Poor’s (BB, stable), Fitch Ratings (BB, stable) and Moody’s (Ba1, stable) – and is the only Russian financial organization that has been given a public Corporate Governance Score by Standard & Poor’s (CGS-6+).
Standard & Poor’s awarded MDM Bank the highest ranking in its study of “Transparency and Disclosure by Russian banks” in 2006 and 2007. The Bank was also regarded by Euromoney magazine as “one of the leading banks in Russia and Emerging Europe, applying the most advanced standards of corporate governance.”
MDM Bank has received a number of awards from Global Finance magazine:
2005 – Best Domestic Bank and Editor’s Special Award for Transparency.
2006 – Best Forex Bank, Best Domestic Bank, Best Domestic M&A Arranger, and Best Bank in Corporate Governance. In October 2006, Euromoney magazine awarded MDM Bank Leading Bank in Corporate Governance in Emerging Europe.
2007 – Corporate Governance Editor’s Award, and Best Forex Bank.
2008 – Best Domestic Bond Research Team
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18.07.2008 17:42

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